The government have announced that 22 projects are to be funded under the Human Capital Initiative. The projects include the use of virtual laboratories in higher education, a new hub to up-skill the building sector on green construction, and the establishment of Creative Futures Academy to support digital and screen culture, cinema, literature and broadcasting, art, design, and fashion.
Innovative methods of teaching and delivery will be promoted on these projects, so that learners will benefit from improved quality and more engaging ways of learning on enterprise-focused courses, providing lifelong learning and up-skilling opportunities for all.
Human Capital Initiative Pillar 3, Innovation and Agility is the final Pillar to be announced and commands a total budget of €197 million over the 5-year period, 2020 to 2024.
About the Human Capital Initiative (HCI)
Announced as part of Budget 2019, the primary objective of the Human Capital Initiative (HCI) is to underpin the provision of additional capacity across the Higher Education Sector to meet priority skill needs for enterprise. It represents an additional investment of €300m (€60m per annum from 2020 to 2024) from the surplus in the National Training Fund in line with recommendations contained in the independent review of the National Training Fund on the use of the surplus and the development of labour market skills.
The HCI will also incentivise continued reform and innovation in third level provision, building on best practice nationally and internationally, strongly supporting innovation in programme design and delivery. It aims to future proof graduates and ensure that there is a greater focus across the whole spectrum of Higher Education course provision on promoting and embedding transversal skills.
The Human Capital Initiative consists of 3 pillars:
- Pillar 1: Graduate Conversion and Specialisation Courses
- Pillar 2: Additional Places on Undergraduate Provision
- Pillar 3: Innovation and Agility